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Sunday, March 26, 2017

The Importance of Branding Your Company

All entrepreneurs need a brand to inform their target market about “who you are, who you want to be and who people perceive you to be.”  This will be based on who you are trying to serve and it will be different for every business. 

A brand is created with a logo. Website, promotional materials and packaging of the products.  These tools will communicate to your target market what are your products and services, what are your offers, and how they can satisfy their needs.  Once the brand is created, it must be used in every aspect of your business so that your target market does not forget who you are and what you are trying to do. 

The brand should be used in advertising, in promotions, in selling, and in prospecting.  It should be conveyed in conversations over the telephone with prospects, in distributions.  A good brand will eventually cause an increase in the value and price of your products and services.  It will also stir up the emptions of your target market which will drive them to want your product or service, no matter what the price.  Once you create the brand, it is important to be consistent, so that the target market sees it regularly and is familiar with its message.

In trying to create or develop a brand, the entrepreneur must conduct research into the target market to determine what are their needs, buying habits, and desires.  The entrepreneur must know the target market very well to create a brand that will capture their attention.  It could be very time consuming to create and may need the assistance of experts such as the Small Business Administration or S.C.O.R.E.

The brand begins with the logo, which is placed everywhere in the market.  The entrepreneur should develop a message which should be communicated throughout the company.  The message should also determine the voice for the company and should be conveyed I all communication throughout the company.  It will become the character of the company. 

Once the brand is created, the entrepreneur should also create a tagline, which is a short message about the brand’s meaning.  The entrepreneur should be consistent in using the brand in every aspect of the business.  It should always use the same placement of the logo, colors, and fonts and a template should be created to ensure the brand does not change.  The entrepreneur should be true to the brand as it has been created.  If not, the customers go elsewhere to get their needs met.

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